Bitcoin Rebounds Past $35K as Utility Grows and Approval of Spot ETFs Expected in 2024
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Bitcoin has recovered from the FTX collapse, now trading above $35K again due to growing utility applications.
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Bitcoin's decentralization makes it less prone to contagion compared to other chains like Ethereum and Solana.
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Bitcoin has outperformed Ethereum and Solana over the past year, up 70% vs 17% and 26% respectively.
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Spot bitcoin ETFs are likely to be approved in early 2024, boosting institutional interest.
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Crypto trading volumes rebounded in late 2022 as the market thawed and ETF hopes grew.